7,538 Shares in Abbott Laboratories (NYSE:ABT) Purchased by 3Chopt Investment Partners LLC

3Chopt Investment Partners LLC purchased a new position in Abbott Laboratories (NYSE:ABT) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,538 shares of the healthcare product maker’s stock, valued at approximately $783,000.

A number of other hedge funds have also bought and sold shares of ABT. Unique Wealth Strategies LLC acquired a new position in Abbott Laboratories in the second quarter valued at approximately $28,000. Redmont Wealth Advisors LLC acquired a new position in Abbott Laboratories in the first quarter valued at approximately $30,000. Richardson Financial Services Inc. acquired a new position in Abbott Laboratories in the fourth quarter valued at approximately $29,000. Transcendent Capital Group LLC acquired a new position in Abbott Laboratories in the fourth quarter valued at approximately $29,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Abbott Laboratories in the second quarter valued at approximately $32,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the transaction, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $114.01 on Tuesday. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The stock has a market cap of $198.34 billion, a price-to-earnings ratio of 35.52, a PEG ratio of 2.86 and a beta of 0.72. The stock’s 50 day moving average price is $111.78 and its 200 day moving average price is $108.16. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. The firm had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.08 earnings per share. Equities research analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.93%. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Piper Sandler Companies started coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price for the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $120.00 price target on shares of Abbott Laboratories in a report on Thursday, September 26th. Barclays lifted their price target on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a report on Tuesday, June 4th. Finally, Piper Sandler started coverage on Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.00.

About Abbott Laboratories

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.